Renewing the Community Multisig

Authors

@cylon, @PGov (CGWG)

Summary

This proposal extends the initial Formalizing the Community Multisig proposal that was approved earlier in April 2025, for a 1 year duration.

The initial proposed vote detailed an improved community multisig process and documentation. A robust and detailed process was created to professionalise the community multisig to meet industry level security and opsec standards. This process improves transparency and clarity for the Multisig and ensures all signers are active.

Background

At Compound, the community multisig was initially created to:

• Pause the Compound protocol in case of emergency
• Whitelist accounts for submitting governance proposals that did not require a COMP threshold to be met
• Set borrow caps (Compound V2 only)

The power of the community multisig was recently modified to also include cancelling malicious proposals as well following the passage of Proposal 303 to add a Proposal Guardian. This power must be periodically renewed by governance. We propose proactively extending the proposal guardian for 1 additional year.

Over the years, the process for onboarding and operational procedures for this very important multisig have been undefined. In the first trial period, the multisig signers have internally doxxed themselves and worked together to set some ground rules for the responsibility.

The current multisig signers and members can be found here: Forums

Improvements

With the passing and onboarding of the recent security provider for the DAO, ChainSecurity & Certora’s approved mandate now cover the scope of the quality engineer role, previously held by the DefiSafety team.

The DefiSafety team was incredibly helpful in first formalizing the multisig and has maintained these documents for the DAO to keep track of:

• History Document for the multisig
• Detailed Activities Document showing all transactions and signers, documenting its management process. This includes what the Multisig is capable of, who the signers are, what their responsibilities are, and their proof of humanity. It includes how the signers will communicate when an issue has been raised. It describes the regular testing and how the resulting executed transactions are documented. This includes periodic test “fire drills” each quarter.
• Shorter summary document highlighting main points

With DefiSafety’s role as the quality engineer now under ChainSecurity & Certora’s mandate, the CGWG will work with the team to transition any documents over and maintain continued updates and support. Further, the DefiSafety is encouraged and expected to apply for a grant from the Compound Grants Program to facilitate help as needed.

Additionally, the Proposal Guardian has recently been extended for 1 year in a prior governance vote.

Proposal

As part of the transition in Security Service Provider, we have added signers ChainSecurity & Certora onto the multsig. These new signers have elected to forfeit their stipends as part of their Security Service Partnership with Compound.

After consultation with the Foundation and discussion with current multisig members, signer membership was recently reevaluated to keep the current signer set composed of active community members. This includes removing TennisBowling and BLCK, and adding Michael as an additional independent signer.

Additionally, as mentioned above, with the transition of the quality engineer role to ChainSecurity and Certora, the original funding here will no longer be needed. The CGWG will oversee transitioning documents, and will coordinate with respective teams as needed.

Budget

For a 1 year renewal, we propose:

• Multisig Signers (7): $1.5k/month/signer => $126k (ChainSecurity & Certora have forfeited their stipends)
• Quality Engineer: $0 (included in recent SSP RFP Mandate for ChainSecurity & Certora; CGWG will facilitate document updates)

Total: $126k

Similar to the prior vote, the funds will be sent to the CGWG who will be tasked with paying the multisig signers, including setting up streams and maintaining documentation and updates with DefiSafety. We have used a price of $41.25/Comp, resulting in $126,000/$30.75 = 4097.5 COMP. Given the extended duration of the program, we are requesting a 10% buffer in COMP, bringing the request to 4507 COMP.

Edit: This proposal has been resubmitted to reprice for substantial price movements, as well as align the voting period with weekdays.